Cost of being president: Trump's net worth drops $600 million on Forbes' list

18 Oct 2017 in 11:10

US President Donald Trump won the White House but lost in the annual Forbes magazine rankings of the wealthiest Americans.

The fortune of the nation's commander-in-chief shrank by $600 million, to $3.1 billion, dropping him from 156th place to 248th place in the 2017 Forbes 400 ranking, the magazine reported Tuesday.

Microsoft co-founder Bill Gates led the new Forbes 400 ranking for the 24th year in a row, with an estimated net worth of $89 billion. Amazon CEO Jeff Bezos' estimated $81.5 billion fortune kept him right behind Gates for the second consecutive year. And famed financial investor and businessman Warren Buffett ranked third with an estimated wealth total of $78 billion.